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The platform intends to partner with quality developers to provide capital solutions and expedite project construction and completion
New Delhi: HDFC Capital Advisors and US-based Cerberus Capital Management have partnered to target the creation of a special situations platform focused on high-yield opportunities in the residential real estate sector.
The platform will seek to purchase inventory and provide last-mile funding for under-construction residential projects across India, among other real estate-related opportunities, HDFC Ltd said in a statement on Thursday.
“The development of the platform is in response to a series of shocks to the residential real estate market that have created a significant need for capital. Many buyers have been unwilling to fund projects in advance of completion while traditional financing channels have come under severe pressure,” it said.
The platform intends to partner with quality developers to provide capital solutions and expedite project construction and completion, it said.
This platform, in partnership with Cerberus, has the potential to provide an impetus to the real estate sector by providing capital solutions to developers and restarting stalled housing projects, HDFC Chairman Deepak Parekh said.
HDFC Capital is a 100 per cent subsidiary of HDFC Ltd and provides investment management services for real estate private equity financing.